System and method for optimized asset allocation recommendations based on socio-economic trends

Abstract

A system and method for optimized asset allocation recommendations based on socio-economic trends are disclosed. The method includes receiving first information associated with a set of assets, and a set of beneficiary entities associated with a user. Further, the method includes retrieving second information associated with the set of assets and a testament from at least one external resource. Further, the method includes analyzing, using a recommendation engine, the first information and the second information to determine an optimized allocation of the set of assets to the set of beneficiary entities. Further, the method includes generating a preliminary testament draft based on the optimized asset allocation recommendation. Further, the method includes rendering, via a display, the generated preliminary testament draft to the user to prompt the user to provide a user input. Thereafter, the method includes generating a final testament draft based on the user input.

What is claimed is: 
     
         1 . A method for providing an optimized asset allocation recommendation, the method being implemented by at least one processor, the method comprising:
 receiving, by the at least one processor, first information associated with a set of assets, and a set of beneficiary entities associated with a user;   retrieving, by the at least one processor, second information associated with the set of assets, the set of beneficiary entities, and a testament from at least one external resource;   analyzing, by the at least one processor using a recommendation engine, the first information and the second information to determine an optimized allocation recommendation of the set of assets to the set of beneficiary entities;   generating, by the at least one processor, a preliminary testament draft based on the optimized asset allocation recommendation;   rendering, by the at least one processor via a display, the generated preliminary testament draft to the user to prompt the user to provide a user input; and   generating, by the at least one processor, a final testament draft based on the user input.   
     
     
         2 . The method as claimed in  claim 1 , wherein the generating of the final testament draft comprises:
 modifying, by the at least one processor, the preliminary testament draft based on the user input; and   receiving, by the at least one processor from a pre-authorized legal entity, an input that relates to the modified preliminary testament draft,   wherein the generating of the final testament draft is further based on the received input from the pre-authorized legal entity.   
     
     
         3 . The method as claimed in  claim 1 , wherein the generating of the final testament draft comprises:
 analyzing, by the at least one processor, the user input to determine that the user has approved the preliminary testament draft; and   receiving, from a pre-authorized legal entity, an input that relates to the approved preliminary testament draft,   wherein the generating of the final testament draft is further based on the received input from the pre-authorized legal entity.   
     
     
         4 . The method as claimed in  claim 1 , wherein the method further comprises displaying, by the at least one processor via the display, the generated final testament draft. 
     
     
         5 . The method as claimed in  claim 1 , wherein the second information comprises a real-time economic indicator, a historical market data, and an existing legal framework that is relevant to estate planning. 
     
     
         6 . The method as claimed in  claim 5 , wherein the method further comprises:
 periodically reviewing, by the at least one processor, a change in at least one from among the economic indicator, the historical market data, and the existing legal framework that is relevant to estate planning after a predefined time period;   generating, by the at least one processor, a set of modifications in the optimized asset allocation recommendation based on the change in the at least one from among the economic indicator, the historical market data, and the existing legal framework that is relevant to estate planning;   recommending, by the at least one processor, the generated set of modifications to the user; and   generating, by the at least one processor, an alert to the user based on the recommendation of the generated set of modifications.   
     
     
         7 . The method as claimed in  claim 1 , wherein the method further comprises updating, by the at least one processor, the recommendation engine based on the user input. 
     
     
         8 . The method as claimed in  claim 1 , wherein the set of assets comprises at least one from among a real estate asset, a hard commodities investment, a soft commodities investment, a stocks investment, a liquid asset, and an intellectual property investment. 
     
     
         9 . The method as claimed in  claim 1 , wherein the at least one external resource corresponds to at least one from among economic and market indicators, news and current affairs, and socio-economic and geo-political realities that affect a valuation of the set of assets. 
     
     
         10 . A computing device configured to implement an execution of a method for providing an optimized asset allocation recommendation, the computing device comprising:
 a processor,   a memory; and   a communication interface coupled to each of the processor and the memory, wherein the processor is configured to:
 receive first information associated with a set of assets, and a set of beneficiary entities associated with a user; 
 retrieve second information associated with the set of assets, the set of beneficiary entities and a testament from at least one external resource; 
 analyze, using a recommendation engine, the first information and the second information to determine an optimized allocation recommendation of the set of assets to the set of beneficiary entities; 
 generate a preliminary testament draft based on the optimized asset allocation recommendation; 
 render, via a display, the generated preliminary testament draft to the user to prompt the user to provide a user input; and 
 generate a final testament draft based on the user input. 
   
     
     
         11 . The computing device as claimed in  claim 10 , wherein to generate the final testament draft, the processor is further configured to:
 modify the preliminary testament draft based on the user input; and   receive, from a pre-authorized legal entity, an input that relates to the modified preliminary testament draft,   wherein the generation of the final testament draft is further based on the received input from the pre-authorized legal entity.   
     
     
         12 . The computing device as claimed in  claim 10 , wherein to generate the final testament draft, the processor is further configured to:
 analyze the user input to determine that the user has approved the preliminary testament draft; and   receive, from a pre-authorized legal entity, an input that relates to the approved preliminary testament draft,   wherein the generation of the final testament draft is further based on the received input from the pre-authorized legal entity.   
     
     
         13 . The computing device as claimed in  claim 10 , wherein the processor is further configured to display, via the display, the generated final testament draft. 
     
     
         14 . The computing device as claimed in  claim 10 , wherein the second information comprises a real-time economic indicator, a historical market data, and an existing legal framework that is relevant to estate planning. 
     
     
         15 . The computing device as claimed in  claim 14 , wherein the processor is further configured to:
 periodically review a change in at least one from among the economic indicator, the historical market data, and the existing legal framework that is relevant to estate planning after a predefined time period;   generate a set of modifications in the optimized asset allocation recommendation based on the change in the at least one from among the economic indicator, the historical market data, and the existing legal framework that is relevant to estate planning;   recommend the generated set of modifications to the user; and   generate an alert to the user based on the recommendation of the generated set of modifications.   
     
     
         16 . The computing device as claimed in  claim 10 , wherein the processor is further configured to update the recommendation engine based on the user input. 
     
     
         17 . The computing device as claimed in  claim 10 , wherein the set of assets comprises at least one from among a real estate asset, a hard commodities investment, a soft commodities investment, a stocks investment, a liquid asset, and an intellectual property investment. 
     
     
         18 . The computing device as claimed in  claim 10 , wherein the at least one external resource corresponds to at least one from among economic and market indicators, news and current affairs, and socio-economic and geo-political realities that affect a valuation of the set of assets. 
     
     
         19 . A non-transitory computer readable storage medium storing instructions for providing an optimized asset allocation recommendation, the instructions comprising executable code which, when executed by a processor, causes the processor to:
 receive first information associated with a set of assets, and a set of beneficiary entities associated with a user;   retrieve second information associated with the set of assets, the set of beneficiary entities and a testament from at least one external resource;   analyze, using a recommendation engine, the first information and the second information to determine an optimized allocation recommendation of the set of assets to the set of beneficiary entities;   generate a preliminary testament draft based on the optimized asset allocation recommendation;   render, via a display, the generated preliminary testament draft to the user to prompt the user to provide a user input; and   generate a final testament draft based on the user input.   
     
     
         20 . The storage medium as claimed in  claim 19 , wherein to generate the final testament draft, when executed by the processor, the executable code further causes the processor to:
 modify the preliminary testament draft based on the user input; and   receive, from a pre-authorized legal entity, an input that relates to the modified preliminary testament draft,   wherein the generation of the final testament draft is further based on the received input from the pre-authorized legal entity.